More and more I’m hearing news about Bitcoin, Ethereum, and Litecoin. I’ve come across a few cryptocurrencies relating to the cannabis industry in particular, which I’ll link at the bottom of this post.
The goal of this post is to see whether anyone out there either on the dispensary side or wholesale market side has ever considered doing any business with any cryptocurrencies? Does anyone believe they’d be a good alternative to some of the banking issues the cannabis industry is dealing with?
As a heads up, I’m a little intrigued by cryptocurrency. We just started accepting it on our growing equipment website, growershouse.com. That said, some of our partners are a little hesitant to hold Bitcoin so we’re using a payment processor (Bitpay) to process the payments and convert them to USD within a couple business days and automatically deposit them into our bank account.
Some examples of cannabis focused cryptocurrencies: